Establishing a construction business and keeping it afloat for several years is a considerable achievement. But if you’re going to go further, and expand your business, then the challenges will mount. Expand in the right way, and you’ll be able to grab hold of a range of opportunities, but you’ll be vulnerable to all of the growing pains that come with expansion.
Creating a business plan
If you intend to expand your business, then this ambition should be built into your business plan. You should evaluate how you’re going to finance your expansion, and how much you expect to earn through your new, larger, operation.
A business plan, naturally, should not just consist of a single, static document. It should be continually revised and expanded as your business, and your ambitions for it, change. What really matters here is that you lay out your targets and expectations. That way, you’ll be able to judge whether the expansion is going well, with a fair degree of objectivity.
Hire the right people
In construction, expanding your business inevitably means taking on more people. Having a rigorous process for hiring will help you to avoid being saddled with staff who aren’t a good fit for your business. Decide the criteria by which you’ll be making hiring decisions, and make it clear to the people who’ll be doing the recruiting on your behalf. You might prioritise looking for people who are driven and dedicated, even if this means sacrificing on technical skill and experience. Or, you might do the opposite.
In the early days, you might be able to personally interview every prospective new hire; as time goes by and your business expands, you’ll become less involved in the process. It’s critical, therefore, that your hiring department is provided with a clear ethos to work from.
Marketing strategy
You’ll need to get the message out if your business is going to grow. Maintain a combination of online and offline marketing avenues, and make sure that your branding is joined up on each of them.
This might be something that falls outside of your expertise. In this case, it’s a good idea to bring in an outside expert consultant. If you already have a marketing strategy worked into your business plan, then you might use it as a basis for a new one. On the other hand, you might tear everything up and start again.
Quality
If your business can build and maintain a reputation for quality results, then you’ll start to build a reputation naturally through word of mouth. This might mean sourcing quality materials. Even sheet materials like plywood can vary considerably depending on where you’re sourcing them from. The quality of your work, and your customer service, will also matter. Be punctual and polite, and the client won’t forget it.
